BASF SE and AM Green B.V. have signed a memorandum of understanding (MoU) to explore and develop business opportunities for low-carbon chemicals produced exclusively with renewable energy in India. The agreement was signed by Dr. Markus Kamieth, Chairman of the Board of Executive Directors of BASF SE, and Mahesh Kolli, Group President of AM Green, during the Asia-Pacific Conference of German Business 2024 held in New Delhi.
The MoU outlines plans for feasibility studies on low-carbon chemical production in India, including a joint evaluation of potential technologies. It also includes a non-binding letter of intent for the offtake of 100,000 tons annually of ammonia produced with renewable energy, incorporating energy from AM Green’s pumped storage projects located throughout India.
The ammonia produced under this agreement will comply with EU standards for renewable fuels of non-biological origin (RFNBO), as specified in the Renewable Energy Directive (RED III). Some of AM Green’s facilities have already received pre-certification for RFNBO compliance through the CertifHyTM voluntary certification scheme, with additional facilities currently undergoing the pre-certification process.
Dr. Kamieth emphasized BASF’s commitment to sustainable industry transformation, stating, “We are convinced that India is the right place to explore low-carbon chemical production together with our partner AM Green.”
Mahesh Kolli expressed enthusiasm about the partnership, saying, “We are delighted to partner with a global chemical leader like BASF to propel the green transformation in the industry. Our collaboration aims to provide key green molecule feedstocks to produce chemicals, materials, and products for various downstream consumer industries.”
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